BMW Will Invest in $1.7 Billion US-Based EV Production

BMW announced a major commitment to US-based electric vehicle (EV) production, with plans for a $1.7 billion investment....
BMW Will Invest in $1.7 Billion US-Based EV Production
Written by Staff
  • BMW announced a major commitment to US-based electric vehicle (EV) production, with plans for a $1.7 billion investment.

    The automotive industry is working to electrify its lineups amid increasing regulatory and consumer incentives. Despite not being a fan of EV-only strategies, BMW’s executives announced a $1.7 billion investment in US-based EV production.

    The investment will be split between $1 billion to produce EVs at its existing plant in Spartanburg, SC, and $700 million to build a new high-voltage battery plant in Woodruff, SC.

    “For decades, Plant Spartanburg has been a cornerstone of the global success of the BMW Group. It is the home of the BMW X models that are so popular all over the world. Going forward, it will also be a major driver for our electrification strategy, and we will produce at least six fully electric BMW X models here by 2030. That means: The ‘Home of the X’ is also becoming the ‘Home of the Battery Electric Vehicle’,” said Oliver Zipse, BMW Group Chairman of the Board of Management. “In addition, we can showcase BMW Group’s ‘local for local’ principle: Our newly developed sixth generation battery cells, which were specifically designed for the next generation electric vehicles, will be sourced here in South Carolina – where X goes electric.”

    South Carolina Governor McMaster praised the company’s investment:

    “BMW’s sustained and impactful presence in South Carolina demonstrates the power of partnership and shared commitment to our state’s automotive industry success. With today’s announcement of a $1 billion expansion to Plant Spartanburg for manufacturing electric vehicles as well as $700 million for a new plant in Woodruff to assemble battery units, the road to the future is here. And I applaud BMW on helping lead the way.”

    Zipse has previously expressed his doubts about the industry’s move toward an EV-only future:

    “When you look at the technology coming out, the EV push, we must be careful because at the same time, you increase dependency on very few countries,” Zipse said.

    “If someone cannot buy an EV for some reason but needs a car, would you rather propose he continues to drive his old car forever? If you are not selling combustion engines anymore, someone else will,” he added.

    Whatever misgivings Zipse has, it’s clearly not stopping BMW from moving full speed ahead.

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